[sandiego]

The insurance company doesn’t care if you rebuild, the lender will.

Your loan docs will spell out who gets the proceeds from the insurance settlement.

If your house is paid off, you get a check for the amount to rebuild. You can do anything you want with it. The insurance company can’t make you rebuild.

[sandiego]

The insurance company doesn’t care if you rebuild, the lender will.

Your loan docs will spell out who gets the proceeds from the insurance settlement.

If your house is paid off, you get a check for the amount to rebuild. You can do anything you want with it. The insurance company can’t make you rebuild.

[sandiego]

Exactly, Rich.

It seems as if you have spurred a bunch of ignorant posters with no sense of how things work in the real world.

FYI – it works the same with your car if it is stolen or destroyed. I love the stories of people who are upside down in a lease and joke that they are going to leave it at the border with the keys in it so it will get stolen and taken to Mexico. Insurance may pay the replacement cost of the car but if you owe more than the value of the car, you are on the hook for the difference.

[sandiego]

Exactly, Rich.

It seems as if you have spurred a bunch of ignorant posters with no sense of how things work in the real world.

FYI – it works the same with your car if it is stolen or destroyed. I love the stories of people who are upside down in a lease and joke that they are going to leave it at the border with the keys in it so it will get stolen and taken to Mexico. Insurance may pay the replacement cost of the car but if you owe more than the value of the car, you are on the hook for the difference.

[sandiego]

Exactly, Rich.

It seems as if you have spurred a bunch of ignorant posters with no sense of how things work in the real world.

FYI – it works the same with your car if it is stolen or destroyed. I love the stories of people who are upside down in a lease and joke that they are going to leave it at the border with the keys in it so it will get stolen and taken to Mexico. Insurance may pay the replacement cost of the car but if you owe more than the value of the car, you are on the hook for the difference.

[sandiego]

Dear ignorant posters,

If you have a mortgage, the lender will probably require you to have homeowners insurance. The coverage amount only covers the cost to replace or rebuild the actual structure. They don’t insure the value of the land since it doesn’t burn.

If you have a $500,000 mortgage on a 2500 sf house, you might get a check for $250,000 to replace/rebuild the structure (2500 sf @ $100 psf). You would still be on the hook for mortgage.

You can’t just walk away from it.

[sandiego]

Dear ignorant posters,

If you have a mortgage, the lender will probably require you to have homeowners insurance. The coverage amount only covers the cost to replace or rebuild the actual structure. They don’t insure the value of the land since it doesn’t burn.

If you have a $500,000 mortgage on a 2500 sf house, you might get a check for $250,000 to replace/rebuild the structure (2500 sf @ $100 psf). You would still be on the hook for mortgage.

You can’t just walk away from it.

[sandiego]

Dear ignorant posters,

If you have a mortgage, the lender will probably require you to have homeowners insurance. The coverage amount only covers the cost to replace or rebuild the actual structure. They don’t insure the value of the land since it doesn’t burn.

If you have a $500,000 mortgage on a 2500 sf house, you might get a check for $250,000 to replace/rebuild the structure (2500 sf @ $100 psf). You would still be on the hook for mortgage.

You can’t just walk away from it.

[sandiego]

Way to make that quantum leap from 1) a few fire bugs to 2)a terrorist plot and/or a disgruntled homeowner behind in their mortgage.

Should I be nervous about “wildfires” in downtown San Diego since it is ground zero for forclosures.

Every credible story so far has attributed the original 3-4 fires (last night) to downed power lines. The only one linked to arson was the OC fire.

[sandiego]

Way to make that quantum leap from 1) a few fire bugs to 2)a terrorist plot and/or a disgruntled homeowner behind in their mortgage.

Should I be nervous about “wildfires” in downtown San Diego since it is ground zero for forclosures.

Every credible story so far has attributed the original 3-4 fires (last night) to downed power lines. The only one linked to arson was the OC fire.

[sandiego]

Way to make that quantum leap from 1) a few fire bugs to 2)a terrorist plot and/or a disgruntled homeowner behind in their mortgage.

Should I be nervous about “wildfires” in downtown San Diego since it is ground zero for forclosures.

Every credible story so far has attributed the original 3-4 fires (last night) to downed power lines. The only one linked to arson was the OC fire.

[sandiego]

When the local builders (Hallmark, Stonefield, etc.) offered to rebuild Scripps Ranch by giving homeowners a fixed price based on established floorplans, it became such a headache that no one made any money.

You won’t see any builders step up and offer that again.

http://www.signonsandiego.com/news/fires/20040711-9999-1m11hall.html

[sandiego]

When the local builders (Hallmark, Stonefield, etc.) offered to rebuild Scripps Ranch by giving homeowners a fixed price based on established floorplans, it became such a headache that no one made any money.

You won’t see any builders step up and offer that again.

http://www.signonsandiego.com/news/fires/20040711-9999-1m11hall.html

[sandiego]

When the local builders (Hallmark, Stonefield, etc.) offered to rebuild Scripps Ranch by giving homeowners a fixed price based on established floorplans, it became such a headache that no one made any money.

You won’t see any builders step up and offer that again.

http://www.signonsandiego.com/news/fires/20040711-9999-1m11hall.html

[sandiego]

What did you pay for the house in 1988?

Is it worth more today than it was then?

If you still owned it, what would your overall return on investment be (assuming that you put 10% down in 1988)?

I bought a condo in Irvine in 1989 for $252,900. The interest rate was 9.75%.

I imagine that the same place would have sold for $600,000 in 2005, probably $500,000 today. If I had put down $25,290 in 1989 and sold it today, I would have made approx. $325,000 ($300,000 net) on my $25,900 investment (after paying off 18 years of the mortgage). That is approx. 12x my money after going through a horrible slump (1990 to 1996) and a boom (1997-2005) and another 2 year slump.

How did an investment in gold do during that time?

[Author]

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